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, protect american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms, it's going to be impossible to address our country's debt crisis. and get our economy going again and to create jobs. so right now, all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats, to tell the american people what spending cuts they're really willing to make. with that i'll take a few questions. >> speaker boehner, why will you not tell democrats what specific spending cuts you would like to see, especially within en titlements? >> it's been very clear over the last year-and-a-half, i've talked to the president about many of them. you can can look at our budget. where we outline very specific proposals that we passed in last year's budget and the budget from the year before. we know what the menu is. what we don't know is what the white house is willing to do to get serious about solving our debt crisis. >> so your 2011 position still stands then? are you still o
the battle over the so-called fiscal cliff. that's the combination, of course, of spending cuts and exexpiring tax breaks set to kick in about a month from now. economists say it could cause another recession. today, the president visited a toy factory in pennsylvania to make his case for his plan. he is asking americans to pressure congress to extend tax cuts for the middle class right now. in fact, extend tax cuts for everybody for the first $250,000 of income. so the families won't have to worry about a new year's day tax hike. republic leaders say letting the tax cuts expire on income of more than $250,000 would hurt small businesses and, as they call them. job creators. let's get to ed henry who is with us from the white house tonight. president says the election proved most americans are on board with this plan. >> that's right. he, without using the word thinks he he basically has a mandate. even though the election is over, he is out campaigning for this again because he thinks there is a dead lock here in washington and he wants to break it with pressure points from the
spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a local costco here in washington, d.c., proclaimed himself optimistic they would get a deal. the fact of the matter yesterday, erskine bowles, a key player as well, saying he is slightly pessimistic. he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return there surely over the next couple hours. let's tal
cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible to do theoretically but it is not
house is in fact open to having spending cuts as part of this discussion in the fiscal cliff talks. i think what is going on here is the white house heard the criticism and they are trying to breathe some new life into these talks. politico reported there was a phone call between the president and speaker boehner. they claim it was curt as in a short call that did not go well. jay carney just pushed back and said it was a 28-minute phone call. he said it was frank and direct. and it was good, it was positive. they believe, the white house does, that they are making progress. but i pressed jay carney. i said will spending cuts be included? and here is what he said. >> can you hold up that budget, look in the camera and say to your fellow democrats on capitol hill, vote for and include some of these spending cuts in this deal to avoid the fiscal cliff? because that's not what they are doing. should they include those? >> yes. and i know that democrats accept that there -- this has to be a balanced package that includes revenues and cuts and spending cuts. >> reporter: so news the white
not the first time they've ignored those bands. washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh wha
, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's debt crisis and get our economy going again and to create jobs. right now all eyes are on the white house. the country does not need a victory lap. it needs leadership. it is time for the president, congressional democrats to tell the american people what spending cuts they're willing to make. with that, i will take a few questions. [indiscernbile] it has been very clear over the last year and a half. i have talked to the president about many of them. you can look at our budgets where we outlined specific proposals that we passed last year and the year before. we know what the menu is. we do not know what the white house is willing to do to get serious about solving our debt crisis. [indiscernbile] i am not going to get into details, but it is very clear what kind of spending cuts need to occur, but we have no idea what the white house is willing to do. >> most public statements have been optimistic. we are sensing a different tone in th
proposal. but that's just one part of the fiscal cliff debate. the other side of this, the massive spending cuts that have now educators ringing the alarm. they warn of increased class sizes, the elimination of after-school and summer school programs, libraries could close, all this as the u.s. tries to close an achievement gap. joining me now to continue our education nation conversation, world-renowned educator dr. steve perry, also host of tv one's "save my son." steve, it's great to have you here. the secretary of education, arne duncan, has said that 9 million students would be affected by the cuts including nearly 2 million that are already living in this country in poverty. when we talk about special education needs for the kids of our country, we're essentially about to take away resources from the students that need it most. however, we're not talking enough about that. >> one of the reasons why there's even a conversation about cuts is not so much because there's less money coming in, it's because of so much money going out. where we spend the most amount of money in education is
doors and figure how they get past january and how they avoid this fiscal cliff, not only the spending cuts and tax increases but spending cuts particularly in defense. they don't want that. >> explain why what they agree on -- namely that the middle class, 98% of all taxpayers, that their taxes will stay the same, they will not go up. if everyone agrees at least on that, the president says, go ahead and pass that. why not just eliminate the 98% who won't have any changes, those making under $250,000? why not allow that to go forward? why are the republicans resisting on that. >> it could wind up there, wolf. but if the republicans lose that, they believe they kind of lose the leverage that they have. if they sort of give on that, then where's their leverage with the white house? so i think that in the end, wolf, if i had to bet -- and i don't like to bet on these things because they always disappoint -- but i would have to say that the one thing they are all likely to do at some point is to make sure the taxes do not go up on the middle class. but in order to do that, republicans want
compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good evening. >> reporter: good evening. leapt me wa
ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that? >> because the president thinks he has a mandate from the whole country. he thinks he can get anything he wants. i am sure that alan colmes loves this idea. here are the problems. the congress has the authority to authorize the debt. they also have the authority to authorize the bill that pays the debt. so now the president wants to take that away. this guy has shown a tendency to say that i don't need congress. i can pass laws with a stroke of a pen on executive orders. he doesn't need the supreme court because he declares laws unconstitutional, like doma. he says he wants an unlimited credit card, and you all will have
with the fiscal cliff crisis. opponents say they will not bulging. >> reporter: house republicans want big spending cuts but no tax rate increases. here is a picture of president barack obama answering questions on twitter about the fiscal cliff. he is promoting a reference to the estimated tax increase and middle income families would see if rates are not extended, the latest would extend tax cuts for everyone including americans and who the president wants to exclude. the white house says the proposal is too short on specifics. >> we can't guess what they are, they need to tell us and they look forward to the time when they are specific with the ways we have dealt with it. >> they don't like what republicans want to do to social security and more on that during my next update. reporting live, allison burns, ktvu channel 2 morning news. >>> 5:14 in florida, they have released a photo of george zimmerman, showing george zimmerman with a swollen nose and blood did i face. they responded and said it adds nothing new to the case. the volunteer watch man is charged with second-degree murder an
a year end deadline, the white house is wasting no time rejecting the republicans' fiscal cliff counter offer on tax reforms and spending cuts. the gop plan consists of $2.2 trillion in saving officials a decade including raging the age for medicare from 65 to 67 and lowering the cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue but without raising taxes on the wealthy. frn in a letter to the president, republicans attempted to sell the offer as the erskine bowles plan, comparing it to the same offer he drew up last year. >> i think he'd disagree. >> the co-chair of obama's deficit commission, but yesterday mr. bowles flatly rejected that connection. meanwhile, the white house is turning to campaign style messaging as a reminder of whose tax plan was chosen in the court of public opinion on election day. >> under my plan, first of all, 98% of folks who make less than 250,000, you wouldn't see your income taxes go up a single dime. all right? because you're the ones who need relief. but we're not goin
of the fiscal cliff talks. yesterday, the president suggested the tax changes now can be done and spending changes next year and the republicans say, not so were. second, a phone call teen the -- between the president and speaker boehner and carney said the president laid out any deal has to have an increase in tax rates but he would not be specific suggesting there is flexibility. the top rate does nut have to be 39.6 back from clinton, but something to get a deal jump started. mitt romney was here for lunch the first meeting since after the election and it was awkward and the menu included turkey chili and a white house readout said they promised to "keep in touch" if the opportunity arises where their interests intersect, maybe another way of saying not so much. >>neil: turkey chili. >>guest: healthy. >>neil: it is. and you are healthy. they are not close to a deal? they aren't close to a deal? what is the deal? we don't know. when we get a deal, and they will, it will be because of something we don't see, not something we did see. ask any sports agent, many negotiations have turned on
putting his foot down. he says no tax hikes for the wealthy, no deal. america hits that fiscal cliff in 27 days and that means tax hikes and deep spending cuts if the democrats and the republicans can't come together in some kind of a deal and with just ten days remaining until congress is scheduled to go home for the holidays, the clock ticking. here's what he told bloomberg news. listen. >> we're going to have to see the rates on the top 2% go up and we're not going to be able it to get a deal without it. >> we start this morning with white house correspondent dan lothian, he's in washington, d.c. okay. so who's got the ball in their court at this point then, dan? >> well, you know, i think the house gop, they have presented their counteroffer which white house spokesman jay carney is referring to as, quote, magic beans and fairy dust. we expect that house republicans will keep putting pressure on the white house to engage, push for more details on what the white house will accept when it comes to additional entitlement cuts. but i think what's unclear is what kind of negotiating is goin
, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's debt crisis and get our economy going again and to create jobs. right now all eyes are on the white house. the country does not need a victory lap. it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they're willing to make. with that, i will take a few questions. [indiscernible] >> it has been very clear over the last year and a half. i have talked to the president about many of them. you can look at our budgets where we outlined specific proposals that we passed last year and the year before. we know what the menu is. we do not know what the white house is willing to do to get serious about solving our debt crisis. [indiscernible] >> i am not going to get into details, but it is very clear what kind of spending cuts need to occur, but we have no idea what the white house is willing to do. >> most public statements have been optimistic. we ar
with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the slopes. take alka-seltzer plus cold & cough... [ buzz! ] ...and spend time on the chair. for non-drowsy 6-symptom cold & flu relief. take dayquil. use nyquil d... [ ding! ] ...and get longer nighttime cough relief. use tylenol cold multisymptom nighttime... [ coughs ] [ buzz! ] [ screams ] ...and you could find yourself... honey? ...on the couch. nyquil d. 50% longer cough and stuffy nose relief. . >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and i believe that both parties can agree on a frame work that does that in the coming weeks.
the so-called fiscal cliff. that steep across the board spending cut and tax increase scheduled to hit in just 33 days. in a scathing assessment today, the speaker of the house john boehner says there's been no substantive progress on a deal. need to realize there can be no deal without tax rates going up for top earners. let's go live to our chief white house correspondent jessica yellin. she's got more on the latest developments. tough talk from both sides, jessica. >> reporter: tough talk and some bright lines, wolf. on the same day that treasury secretary tim geithner went to capitol hill to meet with both democrats and republicans to talk about these negotiations, there is tense body language and tough words on both sides of pennsylvania avenue. they're starting to sound dug-in on capitol hill. >> all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. >> reporter: at the white house. >> this is available not just here but to everyone in the world who has an internet connection. and i know things are done the old fashioned way sometimes on cap
and avoiding the fiscal cliff? congressman allen west respon responds. >> and-- >> and owed the insurance companies $150, what can we do with that. >> they've lost their homes, businesses and sense of security. is help on the way? victims of superstorm sandy. >> and how can republicans attract hispanic voters? and a look ahead who could throw their hat in the ring for 2016. ladies and gentlemen, our guest host tonight, dana perino. [applaus [applause] >> and i'm dana perino and i want to thank governor huckabee for inviting me to guest host it week while he's out on tour. it's been almost a month since the presidential election and about half the country remains elated, vindicated triumphant. they voted for president obama and are walking on cloud nine. the other half, well, not so much. they are confused, despondent, even sleepless, they wonder if the whole nation has gone quite mad and want to return it common sense not another four years on fantasy island. now, we're taught as kids to be good sportsmen, not to gloat after winning, to give the other side a high five and say good game.
is the federal government spending under control. we continue to get closer to this incredible fiscal cliff and i think that the president should take a case study analysis and look at what president coolidge did and jfk, john f. kennedy when they went in and lowered tax rates and increased revenues, which is exactly what we're talking about. >> so either you've got a president who is tremendously overconfident after being reelected or someone who asks for the sty in the first offer knowing that he will look like the compromising once he gives in on the demands and gets himself involved in negotiations. >> both sides are waiting to see who is going to offer up the plan first, we're waiting on the white house. >> it's the president's job, isn't it? congress controls the purse strings and the white house is waiting for-- we're waiting for something from congress on their side and go back and forth, who puts up the offer first and it's the first salvo, so, michigan mcconnell laughs at it and timothy geithner hands it to them. this isn't real. >> i didn't know that first was the first offer. we have
the fiscal cliff k and -- cliff, and now simpson is silly too. look at simpson dancing. ♪ gerri: so this is simpson with his program, the can kicks back, a play on kicking the can down the road. will this get the bowl down the field? >> what people are not notices right now is that under current law, existing tax rates are going up a lot january 1st. gerri: right. >> the president says, oh, go back a little bit to clinton's old tax rates, but he's not because clinton's rates affected everyone, not just the small sliver of the population. a 3.8% unearned income tax is kicking in on january 1st. gerri: obamacare. >> capital gains going from 15% to that 25*%. dividend taxes going 15% to 44% under current law without a thing done as far as the president obama wanting the taxes on the rich to go up. he's already done it. there's 1% medicare tax on people who earn over $250,000 a year. gerri: income tax. >> a payroll tax strictly. it's added to the medicare tax that's taken out, makes a small stop in the trust fund, and funds another program that the president likes. this is the problem.
what happens if we go off this fiscal cliff. it's a spending decision and a tax decision, but i list them both up here. this chart comes from the congressional research service. a couple interesting things i want to point out here. first and foremost, if we do nothing, tax increases of about $400 billion, there are going to be spending reductions of about $102 billion, there are some other changes that happen at the end of the year that aren't associated with policy decisions, at the end of the day we change the scope of our deficit by about $607 billion. if we do nothing, that's what makes this such a hard issue to grapple with, mr. speaker, if we do nothing, if we reach no agreement, changes that happen automatically and burden us all in different ways, will create $607 billion for the u.s. treasury that we didn't have before. and that's only half of the annual deficit. you see all the pan damone yum that -- pandemonium folks are describing, all the frightful words used to describe the fiscal cliff, if we roll over that fiscal cliff and all of those bad things come to bear, the tax
increases and spending cuts that people here in washington call the fiscal cliff. most house members are going home today with only 27 days to make a deal. two house leaders who are not going home are with me in the situation room. they're working very hard to avoid the fiscal cliff. thanks so much for coming in. for so long, republicans wanted to extend the bush tax cuts forever, now for 98% of the american people, the democrats are saying, we're ready. we've given up, we'll let you have those bush tax cuts for as long as possible. let's just resolve that, we'll move on to some of the tougher issues later. let's make sure that 98% of the american families have these lower tax rates into next year. why not give that? >> the debate over those top two pshsz, is really a strong man debate. what we need is tax reform in america. we need a simpler less complicated tax code. >> i agree with you. we need a tax reform. why not resolve this one issue, make sure taxes don't increase for 98% of the americans, 100% of americans for their first $250,000 a year. let them have that, and then move o
. >> no spending cuts in that? >> if -- >> you got to -- >> just to go over the fiscal cliff, you will go back and -- republicans right there would see $750 billion raised every we are. suddenly these -- these clinton tax -- bush tax cuts are so dear under -- for the 98% of the democrats i have never seen anything like it. never seen anyone love the bush tax cuts so much. more than the democrats. first 98% p they hated them all along and now they love them except the 2%. >> they are not going put one thing on the table unless they get the other, both sides. i don't see them just surrendering to tax cuts on the one hand without any expend organize vice versa. >> do you think there would be any growth, anything positive, from going over the fiscal cliff that would ameliorate the damage? >> it depends on what -- the deficit. >> if you -- depends what the alternative is. alternative is what was proposed yesterday, i would go over the cliff and take -- >> so would all the people on the left. >> but on the other hand, i hope that there can be -- >> 50/50? where are we? >> 50/50, yes. >> you don't th
isn't even a start. six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for millions mor
in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't spend much money on energy. energy research is about $6 billion a year. i would like to see it doubled. this report is a blueprint for independence and i think it is the right blueprint. we are not in a position to be held hostage by anybody. it also focuses on find more and use less. what we can do in the federal government is i think invest in research and getting a 500-mile battery for electric cars and getting solar energy that is 1 kilowatt installed and finding a way to capture carbon from coal plants that can be turned into fuel that is commercially sold. we should look at the model of unconventional gas in terms of how our system and federal research and our system of private properties have produced a situation where we have a massive advantage over europe and asia in terms of our natural gas. it creates a better economy an
-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've bought ragu for years. [ thinking ] woer what other questionable choices i've made? i choose date number 2! whooo! [ sigh of relf ] [ male announcer ] choose taste. choose prego. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and b
of how we fix our national deficit. as you well know, we face the fiscal cliff, a series of tax hikes and spending cuts that many people think if they go into effect will put the country into recession. yet we heard the treasury secretary tim geithner say the president is willing to see the country go off the fiscal cliff if republicans do not accede to his demands. >> it's probably pretty real. but you can't get to where we need to go by cutting spending, that won't cut it. you're going to destroy a fragile economy. you can't get there by taxing your way into it and you can't grow your way out of this. you have to have a blend. when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> let me ask you about a report that some republicans now are perhaps willing to see the tax rates rise to some
a month from going over the fiscal cliff and the term economists call the series of spending cuts and expiring tax breaks that will take effect the first of the year. that could cost millions of jobs and lead to a new recession. it is basically austerity on steroids. republicans with their counteroffer today again reject the president's plan if higher taxes on families earning more than $250,000 a year. wendell is live at the white house. if they reject that i don't know how far this will go. the president could blink but his eyes seem wide open. >>reporter: it is a nonstarter if they reject continuing the upper income tax cuts. the republicans say the plan cuts the deficits by $4.6 trillion based on the white house method of counting based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it to the new year
: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to brink of default again, i will not play that game. >> republicans held their own meeting with small business owners denying they're trying to punt. >> i'll be here and available at any moment to sit down with the president to get serious abouting the problem. >> they noted the president has not scheduled any meetings with the g.o.p. leaders in weeks. not offered any counterproposal to boehner's plan from last week. >> a balanced approach the president has been asking for. now we need response from the white house. >> reporter: they continue to insist the impediment to the deal is boehner's tax revenue is not enough
this done more than me. >> for the first time, plan for massive spending cuts from going over the fiscal cliff warning business executives, the economy could take another hit if republicans decide to extend just to middle class tax cuts to avoid the cliff for now and come back next year with more leverage to tie spending cuts and medicare reform to another hike in the nation's debt ceiling. >> we're not going to play that game next year. if congress, in any way suggests they tie negotiations to debt ceiling votes, and take us to the brink of default again as part of a budget negotiioion, i will not play that game. >> republicans held their meeting with small business owners and denied they are trying to punt until next year. >> i'll be here. i'll be available at any moment to sit down with the president to get serious about solving the problem. >> they noted the president has not scheduled any meetings with g.o.p. leaders in weeks and not offered a counterproposal to boehner's plan from last week. >> frankly, it was the balanced approach the president's been asking for. we need a respons
is willing to do. >> beware, there's a fiscal cliff ahead, but there's still no plan from the president on how to cut spending. >> made a mistake, but i didn't. almost 18, almost 20 years ago. >> a former democratic representative who was convicted of having sex with an underage girl says he's back, and he's running for congress. all of that, plus a shocking new report that gitmo detainees may be coming to america. "hannity" starts right here, right now. new troubles for u.n. ambassador susan rice this as questions surface about her time at the state department when al-qaeda bombed two african embassies in the late '90s, and how the situation parallels what happened prior to the terror attack in benghazi that left four americans dead. yesterday republican senator susan collins met with ambassador rice for 90 minutes, and after the closed-door meeting the senator questioned rice's role at the state department back in 1998 when she served as the assistant secretary of state for african affairs in the clinton administration. watch this. >> those bombings in 1998 resulted in the loss of lif
to listen in a little more to see what he has to say about the fiscal cliff and otherwise. >> entirely on spending cuts, or a variation that has emerged is that we can do so while still lowering rates by closing loopholes and deductions. and you've heard from my team but let me just repeat. we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com
. this is the deal on the fiscal cliff. tax increase now, delay spending cuts, don't worry about the debt. judge napolitano: i wrote a piece this morning on the washington times and a number of venues. argues the republicans probably will cave. notwithstanding the pledge they took, just a political pledge, not legally -- i don't want them to raise taxes but they will. they should remember the peril of recent history. the last american president who said who could forget this? read my lips, no new taxes was dispatched by the voters to a hotel room in houston rather than four more years in the white house because he violated that pledge. george herbert walker bush would keep that pledge today. stuart: always a pleasure. we say it every day on "varney and company," time is money. we mean it. i especially mean it. my take on punctuality next. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of youportfolio. find out why 9 out of 10
in mandatory across-the-board spending cuts over one year, to drag our nation over the so-called fiscal cliff. what those tax increases mean to an average american family of four earning $50,000 a year is over $2,000 in higher income taxes. add to that expiration of the alternative minimum tax patch, new taxes mandated by the federal health care bill, and the reinstatement of the death tax, which will impact the next generation of farmers, ranchers, and small business owners, which americans will see the largest tax increase in the history of our country. if all of this happens, the congressional budget office predicts the nation's economy will shrink next year and the unemployment rate could rise again. in other words, we go back into recession. i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and lim
if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent the bowles simpson plan, nor is it the bowles plan in my testimony on deficit reduction. i simply took the mid point of the public offers, put forward during the negotiations to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaker boehner's letter. the question i wanted to ask you is some of the details, as you know, it's all in. >> can we spin one more point on that? >> absolutely. >> here's speaker boehner who is taking a mid point on the compromise between the two sides and offered it, and it's already flatley rejected? >> i think he may be rejected, sir, if i may -- >> i'm not
to zoraida sambolin for an update on the day's top stories. >> soledad, the fiscal cliff debacle, with 28 days remaining before drastic tax hikes and spending cuts take effect, a republican spending plan has been rejected by the white house. brianna keilar is live from washington. what now, brianna? >> well, right now it's about the pressure building and the clock kicking, zoraida. as house republicans in the white house try to ultimately broker a deal between two very different plans. house speaker john boehner's counteroffer, if you take a look at the headlines from this $800 billion in what would be savings from tax reform. so that is new tax revenue. but not done by increasing income tax rate on the wealthiest. but instead by closing tax loopholes, eliminating tax credits. and also $600 billion in health savings. that's what you'd get from entitlement reform. from reforming medicare, and doing some cuts there under this plan. but compare it to the white house plan, very different than what's on the table there. $1.6 trillion in new taxes. that is two times the amount in the boehner pl
may hang in the balance as the nation gets closer to a fiscal cliff. democrats and republicans have one month to come up with a plan to stop the across the board tax hikes and the major federal spending cuts from taking effect. i'm gregg jarrett. >> heather: i'm heather childers. some of the early optimism for a deal seems to be fading. steve is live in washington with more. >> reporter: one month away from that so-called fiscal cliff. there appears to be very little movement toward any kind of deal. president obama is using the bully-pulpit to appeal to the american people to push for immediate action to push the tax cuts for everybody except for those earning more than $250,000 a year. in his saturday address, he stressed the urgency of the situation. >> if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle-class family of four will see income taxes rise by $2200. we can't let that happen. a families can't afford it and neither can our economy. >> reporter: republicans led by house speaker john boehne
it if a minute. >> before the fiscal cliff deadline the idea of the coming expiration of tax cuts and spending cuts impacting our 401(k)'s and stocks are edging higher. they are optimistic today on wall street and are optimistic congress and the white house will strike a deal but the deadline. stocks slid early by 85 points ben speaker said he was disappointed in the lack of progress. but that could be for public consumption there is progress behind-the-scenes. and now, at least in public, he sounded irritated but i am told there is something different behind the scenes, is that true? >>reporter: he did sound irritated which was striking, because after the president of the united states and speaker boehner spent 15 minutes on the phone according to a source familiar with the call, a lot of presidential time and speaker boehner time after a leak was made to a political publication, online publication, the speaker was not amuseed. >> this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaigns that have leaks in the press are
not agree to some higher tax rates for the wealthy, the nation will go over the fiscal cliff, and the american people will hold them responsible. democrats also take issue with the proposal's spending cuts to medicare and social security. republican counter that tough cuts are needed to tackle the soaring debt, leaving washington locked in a stalemate, less than a month before every american sees their taxes shoot up. the gridlock has irritated people outside washington, like deborah page of arlington, texas. >> if i was working the way the president and congress was working, i would probably lose my job. >> reporter: page started a petition that would cease paychecks and health benefits for all members of congress and president obama if they can't avoid the fiscal cliff. the petition's chances are slim. but it's a reflection of americans' frustration with 28 days left. rob and paula? >> tahman bradley live in washington today. thank you, tahman. >>> and as talks over the fiscal cliff drag on, a new poll finds that most americans do not think very highly of congress. one in t
more focused on washington, on the whole policy issues around the fiscal cliff because they are trying to figure out their spending plans guessing what taxes will be. businesses are focused on if they spend x and taxed at y what's that going to leave them in terms of profitability. degree of which businesses have come off a really good four years where the rest of us have come off a more problematic four years. finally in this quarter partly because of the fiscal cliff, partly because of europe, partly because of slow down in china profits are more challenging for companies. but they are still making a lot of money. >> "wall street journal" study of 40 major companies half plan drastic cuts to their investments and spending into next. once a budget deal is reached, i mean whatever it is, do you think we'll see companies loosen their wallet? is there a bigger chance they will slow down more? >> part of this is contingent how well consumers do. companies will spend money if there's this active healthy consumer base that justifies them spending money for more activities. so, at some point
with a plan on how he wants to avert the fiscal cliff. it is irresponsible of us not to deal with the spending issue and simply to push for raising taxes on hard-working american people. many of us come from small- business backgrounds -- family owned businesses. we understand the situation very well. but it isn't -- it is important we not pass this problem along to our children and grandchildren, but we deal with it in a responsible way. the republicans have come forward with a responsible plan and will continue to do that and look for ways to keep us from going over this fiscal cliff. >> we have time for a couple questions before we go to our meeting. >> your colleague has told other colleagues that it is time to vote to extend the middle-class tax cut -- i want to get your take on his comments. more importantly, is this the direction the conference is going? >> i told tom earlier that i disagree with him. he is a wonderful friend and a great supporter of mine, but raising taxes on the so-called top 2%, half as taxpayers are small business owners who pay their taxes with personal income tax
. ♪ host: we will spend about two hours this morning on the "washington journal" talking about the fiscal cliff. we want to start off hearing from you on a different topic. what do you think about hillary clinton's future and her running for president in 2016? that is our question this morning on the "washington journal." you can start dialing in now, or you can contact us via social media. you can make a comment on our facebook page. you can also send us an e-mail. from "the hill" newspaper yesterday -- a new poll by abc news and "the washington post." 57% say they support a presidential bid from every clinton in 2016. -- from hillary clinton in 2016. 68% approved of her work as secretary of state. 66% hold a favorable view of clinton after her department has faced criticism over the handling of benghazi and libya. clinton also has heavy support in new york were 54% of registered voters say they would support a presidential bid by her in 2016. that is an "the hill" newspaper. we have lots of facebook comments already on this question. we want to share a couple of those with thieu. jackie
of about 9% across defense and all domestic spending. that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to the senate, it went 98-0 against it. no one voted for it. melissa: well, that was kind of a tricky parliamentary issue as well but, i do take issue with one thing, the idea we haven't dealt with entightments. we had two years, a year and a half we debated medicare. we made significant changes in medicare. we just had a campaign which republicans including governor romney time after time after time charged that we had cut $616 billion in spending out of medicare and we reformed the program. we have looking toward new ways to compensate providers.
on the fiscal cliff, urging republicans and democrats to work together to avoid automatic increases and spending cuts set for the end of the year. in baltimore, a group of demonstrators outside the social security office made their feelings known, urging a resolution that does not include cuts in social security jobs and services. >> we're concerned about the cuts in social security. and we would like to see them change. and we don't want to see our public hurt in any way. we want to serve public every day. >> you don't take money out of people's hands when you're trying to promote jobs. >> this is not a crime to cut back. >> for maryland, there's more than associate security cuts at stake. overall, maryland has 300,000 direct jobs and another 230,000 contracting jobs supported by the federal government. >> maryland has the fourth highest number of government- related jobs in the country. i'm pat warren reporting. now back to you on tv hill. >> and employees at more than 100 social security offices nationwide, participated today. the social secur
officials trading insults, playing the blame game here as the clock is winding down on the fiscal cliff. keep in mind time is a-wasting. in 32 days now tax rates soar, spending gets slashed. oh, and don't forget, congress, yeah, they get to take a break for the holidays in 14 days. a recipe for recession. the president is pitching a plan that calls for $1.6 trillion in tax heights and $50 billion in new infrastructure spending. he'll head to a manufacturing plant in pennsylvania to push all this. republicans aren't buying in. listen to house speaker john boehner's reaction. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> didn't take very long for democrats to hit back at speaker boehner. senate majority leader harry reid got up, a little personal. >> i don't understand his brain, so you should ask him. >> i don't understand his brain. let's go to washington this morning. wow, just when we thought they were getting closer seems like they're even farther apart this morning. >> yeah, you know, the nic
. >>> treasury secretary tim geithner is holding talks about avoiding the year-end fiscal cliff of tax hikes and spending cuts. republicans are asking for more details from the white house about how president obama would curb the growth of benefit programs like medicare and medicaid. >>> the woman who could be nominated as the next secretary of state got a big show of support wednesday in the face of growing republican criticism. president obama called susan rice extraordinary and said he couldn't be more proud of the job she's done representing the u.s. at the united nations. and outgoing secretary of state hillary clinton said rice has done a great job. rice has been under fire, though, for her initial comments about the deadly september attack on the u.s. consulate in libya. >>> president obama welcomes election rival mitt romney to the white house today. they'll have a private lunch together. the president promised in his victory speech to meet with romney after their bitter campaign and consider his ideas for making government more efficient. >>> and yet another arrest this morning for
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